The S&P 500 Index
(^GSPC), now up 5.7% this month, continues going to Pluto, where it joins Iran’s unfortunate monkey in Outer Space
(GLW), which well remembers the Internet-era when even chimps could make money
, ended up after reporting Gorilla Glass sales surged 68%
. And Apple
(AAPL) advanced 1.88%, with the umpteenth iteration of its iPad exciting orangutans if no one else
Marissa Mayer’s Yahoo
(YHOO) fell 3.00% yet her résumé-padding predecessor
shouldn’t exhibit undue schadenfreude
, for LinkedIn
(LNKD) lost 2.10%. Ford
(F) fell 4.64%, and is down further on dual downgrades ahead of the open. Its CEO called results “spectacular
” but, to quote a certain Seinfeld
episode, the guy needs to get real
Today the Federal Open Market Committee concludes its two-day policy meeting, and an interest rate announcement expected at 2:15 p.m. Eastern. It’s Hump Day of peak week for earnings reports, with Boeing
(COP), Electronic Arts
(PINK:FIATY), Hennes & Mauritz
(PINK:NTDOY), Northrop Grumman
(NOC), Phillips 66
(QCOM), and Roche Holding
(PINK:RHHBY) all due to release results.
Affiliated Managers Group
(AMG): The company is cut to Neutral from Buy at Citigroup, although its price objective actually increases by $20 to $155.
(AMZN): Shares, surging 8.99% ahead of the open after announcing earnings, are cut to Outperform from Buy at Crédit Agricole. Issues include an extended investment cycle and attendant near-term margin pressures. The new price target is $290.
(PINK:ANFGY): Bank of America-Merrill Lynch lowers the British copper company to Neutral from Buy.
(MT): HSBC Securities slashes the steel stock to Underweight from Neutral and also lowers its target price to $16.
(XOM): Macquarie moves the Dow
(^DJI) member to Neutral from Outperform as it envisages flat production growth for 2013 and 2014. The target price is now $99, trimmed from $101.
(F): Another day, another downgrade for the car company. Actually two, for the firm is taken to Hold from Buy at Craig Hallum and to Underperform from Outperform at Crédit Agricole. A lack of earnings growth in 2013 are among the concerns, and Agricole’s target is trimmed to $14 from $15.
(FOSL): The watchmaker, written about favorably in a recent issue of Barron’s
, is slashed to Sell from Hold with an $85 price objective at Brean Capital. Europe’s domestic markets remain under pressure.
(HOG): Troubled by a steep valuation, Goldman Sachs downgrades the motorcycle icon to Neutral from Buy with an amended target of $58. A sharp run up since mid-October “limits upside potential,” analysts wrote in a note.
(HA): The airline is clipped to Hold from Buy at Deutsche Bank, which cites yen weakness and excess supply in key markets.
(JBLU): Raymond James reduces its recommendation to Underperform from Market Perform on account of relatively high costs and low ROIC (Return On Invested Capital.)
(NASDAQ:OPEN): Oppenheimer takes the stock to Perform from Outperform amid potential risk from the company’s cloud-based Electronic Reservation Book (ERB) roll-out. The $54 objective is intact.
(PKX): Morgan Stanley moves the Korean steel stock to Equal-Weight from Overweight at Morgan Stanley.
(PINK:SAPMY): Shares are now Neutral from Outperform at Credit Suisse and Hold from Buy at Deutsche Bank.
(SCSS): The recently-slumping bedding behemoth is taken to Hold from Buy at KeyBanc, which simultaneously upgraded its competitor Tempur-Pedic
(TPX) this morning.
(UBS): The Swiss financial giant gets downgraded to Neutral from Outperform by BNP Paribas.
(UNP): Atlantic Equities reduces the railroad to Neutral from Overweight.
(See also: New Stock Coverage: Buffalo Wild Wings Earthbound Ahead of Super Bowl?
and Stock Upgrades: Cisco Back In Business
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.